Analysts Set Raymond James (NYSE:RJF) Target Price at $153.82

Raymond James (NYSE:RJF) has earned a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $153.82.

A number of analysts have recently weighed in on RJF shares. Morgan Stanley increased their price target on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Citigroup dropped their target price on Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Bank of America downgraded shares of Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 price target for the company. in a report on Wednesday, April 30th. Cowen restated a “hold” rating on shares of Raymond James in a research report on Thursday, April 24th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $175.00 price objective on shares of Raymond James in a research report on Thursday, April 24th.

Raymond James Stock Performance

Raymond James stock opened at $153.93 on Wednesday. The company has a market cap of $31.06 billion, a PE ratio of 15.02, a P/E/G ratio of 0.90 and a beta of 1.02. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a fifty day moving average price of $139.29 and a two-hundred day moving average price of $152.45. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the prior year, the company earned $2.31 EPS. Raymond James’s quarterly revenue was up 9.0% on a year-over-year basis. Research analysts expect that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.30%. Raymond James’s dividend payout ratio is presently 19.25%.

Insiders Place Their Bets

In related news, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider now directly owns 78,227 shares of the company’s stock, valued at $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Raymond James

A number of institutional investors and hedge funds have recently bought and sold shares of RJF. Barclays PLC boosted its holdings in Raymond James by 33.5% during the third quarter. Barclays PLC now owns 847,108 shares of the financial services provider’s stock worth $103,738,000 after buying an additional 212,697 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Raymond James by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Raymond James by 2.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,128 shares of the financial services provider’s stock worth $6,078,000 after acquiring an additional 769 shares during the last quarter. Czech National Bank raised its position in shares of Raymond James by 5.1% during the fourth quarter. Czech National Bank now owns 39,672 shares of the financial services provider’s stock worth $6,162,000 after purchasing an additional 1,915 shares during the period. Finally, Wedmont Private Capital boosted its position in shares of Raymond James by 6.0% in the 4th quarter. Wedmont Private Capital now owns 1,876 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 107 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

About Raymond James

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.